Nisa Investment Advisors LLC Trims Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Nisa Investment Advisors LLC lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 6.6% in the third quarter, Holdings Channel.com reports. The firm owned 45,372 shares of the specialty chemicals company’s stock after selling 3,227 shares during the period. Nisa Investment Advisors LLC’s holdings in PPG Industries were worth $6,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Connections Group Inc. bought a new stake in shares of PPG Industries in the second quarter worth $25,000. Rothschild Investment LLC acquired a new stake in shares of PPG Industries in the 2nd quarter valued at about $37,000. LRI Investments LLC acquired a new stake in shares of PPG Industries in the 1st quarter valued at about $53,000. DiNuzzo Private Wealth Inc. lifted its position in shares of PPG Industries by 103.6% during the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 203 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in PPG Industries in the first quarter worth about $61,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays reduced their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. UBS Group raised their price objective on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lowered their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Royal Bank of Canada dropped their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Stock Down 0.9 %

PPG Industries stock opened at $124.51 on Friday. The company’s 50-day moving average price is $128.03 and its two-hundred day moving average price is $128.39. The stock has a market cap of $28.89 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.93 and a beta of 1.26. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 EPS. On average, analysts expect that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.18%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.